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We continued to lock in profits and have started picking stocks and trading on both sides. Here are the closed trades so far this week, including an overnight +80% gain on HLF puts and a +100% profit on GLD puts on Monday:

It has been a nice month to start the year. Market conditions have much improved. I'm bringing back the "Second Month FREE" deal for any new monthly subscription to any service. This offer will be valid until Feb 28, 2013.

SPX SPX slipped 5.88 points to clsoe at 1501.96. It closed just above 1500. The daily MAs and the MACD were little changed.

Nasdaq Nasdaq slipped 11.35 points to close at 3142.31. It closed at its 10-day MA. The MACD slipped.

Although the markets took a pause today, things still held up pretty well. We might see some profit-taking tomorrow, and more consolidation for the rest of the week. Many stocks are looking quite toppy and are beginning to roll over. While I don't expect the pullback to be sharp, this market may need to see a pullback before going higher. Things are pretty much progressing along my forecast this weekend, and we've already discussed some support levels. We could see a stock-picking environment while the consolidation goes on, where good trades can be found on both sides!

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